Worried about a new tax bill? A guide for pensioners

Recently, many pensioners received surprising news: a tax bill for the first time. This stems from HM Revenue & Customs (HMRC) decision to send letters to over 140,000 pensioners, who have taxable income but are not filing Self-Assessment. In total, 560,000 pensioners will receive letters, covering the 2023/24 tax year. Why is this happening? The…

Glazers’ partner shortlisted for Practice Leader of the Year at the Accounting Excellence Awards

Glazers, a prominent North London accountancy firm, is celebrating the success of Ben Allen, who has been shortlisted for the prestigious Practice Leader of the Year award at the Accounting Excellence Awards 2024. Since joining Glazers, Ben Allen has rapidly ascended to partnership, making him one of the youngest partners in the firm’s history. His…

Inside the private equity boom

Private equity investment has been a significant force in the financial world for some time. However, the nature of private equity has changed considerably in the last few years and it’s worth knowing how this may affect your business. Background                              Traditionally, private equity involved investment firms raising funds from investors to acquire stakes in companies.…

Taxes on the rise: A certainty, not a possibility

By the time you read this, the next UK Government is likely to have been formed. Whatever the outcome achieved in the election and despite the various parties campaigning and pledges around tax, expert opinion suggests that future rises are inevitable. The inevitability of higher taxes For the foreseeable future, the freeze on most tax…

Invoice fraud becoming a significant problem

Invoice fraud, affecting one in three companies, involves deceptive practices that trick businesses into making payments to fraudulent accounts. As fraudsters’ techniques become more sophisticated, businesses must understand their tactics and the potential impact on operations. Here are some common techniques used by fraudsters: Fake invoices: Fraudsters create counterfeit invoices that appear legitimate. They might…

Total Income Tax and NI income hits new high

HM Treasury has taken £77.2 billion in Income Tax and National Insurance (NI) since April 2024 – signalling the effect of the freeze in the Personal Allowance and Income Tax bands and thresholds. Taxpayers have seen two landmark cuts to employee NI payments, falling from 12 per cent to 10 per cent after the 2023…